New City Construction

British Land Co PLC
22 May 2007

THE LEADENHALL BUILDING GO-AHEAD

Underlining its confidence in London as the world's leading international
financial and business centre, British Land said today that its Board has
formally decided to press ahead with construction of the Leadenhall Building,
its 224m (736 ft) new tower in London, EC3.

The stunning 47 storey building (612,000 sq ft), set to be one of the tallest in
the City of London, is part of British Land's £4 billion development programme
which also includes the new 35 storey Broadgate Tower and 201 Bishopsgate
developments in the City.

Stephen Hester, Chief Executive, British Land, said: "We are confident about
London's future and its continued renaissance as the premier international
business centre in the world. We believe the Leadenhall Building to be clearly
the best of the new generation of City towers and expect it to attract strong
interest from prospective occupiers. Our customer led strategies are delivering
high levels of letting activity elsewhere, most notably all of 201 Bishopsgate
and 40 per cent of the adjoining Broadgate Tower is now let or under offer,
underpinning our confidence in the appeal of our buildings."

Demolition on the existing site is well underway and the Leadenhall Building is
scheduled for completion in the first quarter of 2011 with construction costs
circa £286 million.

22 May 2007

For further media information:
Laura De Vere - tel [phone]/mobile: [phone]

Images of The Leadenhall Building, 
http://www.britishland.com/pressrelease220507b.htm

Notes to Editors:

British Land currently has 5.2 million sq ft of committed development projects
including 2.84 million sq ft of London offices.

Other developments in addition to The Leadenhall Building and 201 Bishopsgate
and The Broadgate Tower include: Ropemaker EC2, the landmark Willis Building
EC3; Ludgate West, EC4; York House, W1 (British Land's new head office);
Regent's Place NW1.

British Land is also today announcing its Preliminary results for the year ended
31 March 2007.



                      This information is provided by RNS
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